Ann: Change in substantial holding, page-9

Projects are a different beast spanning a number of years....accounting spans only 1 year therefore a loss is not booked until the outcome is known which may not be for a few of reporting periods.. Im told the loss on the Tindal project was no small "mistep" with claims unlikely to recover a fraction of the loss.. I'm in the claims / disputes business and can see 2 more potential train wrecks on the horizon...But my business and the business of all my competitors is booming as everyone in this space is loosing money on projects.. Clients of these companies have become more demanding and less competent in recent years which is a dangerous combination and you cant win with them...I can tell you accounting does not show problems in a contracting business the same way it would say a manufacture business until its too late...Lets hope profits on other projects can paper over the cracks but I'm seeing some big numbers out there amongst my clients.